SecurityType

Overview

SecurityType specifies the most granular level of security classification in the RIXML taxonomy, identifying the specific type of financial instrument such as common stock, convertible bond, high yield credit, or investment grade credit. It sits at the bottom of the three-tier classification hierarchy formed with AssetClass and AssetType, providing the precision needed to distinguish instruments that share an asset class and asset type but differ in structural or regulatory characteristics. The element carries a required securityType from SecurityTypeEnum and supports publisher-defined extensions via publisherDefinedValue.

Usage

SecurityType is optional and may appear multiple times. It can be attached in two contexts: within Security (under SecurityDetails) to classify an individual instrument being covered, or within ProductClassifications (under Context) to declare that a product covers a particular security type generally (sources: data-dictionary-2.4 p.56, data-dictionary-2.5.1 p.60). Typical usage pairs it with AssetClass and AssetType so that consumers receive a full classification chain (e.g. FixedIncome → Credit → HighYieldCredit). The required securityType selects a value from SecurityTypeEnum; when the value is PublisherDefined, the publisher must supply publisherDefinedValue to name the custom type. The optional weightingAction records changes to the publisher's stance on the security type, and the element may contain Rating and Weighting children to express opinion or position on that type.

Rules

• MUSTWhen securityType is set to PublisherDefined, publisherDefinedValue MUST be provided so the custom security type can be interpreted.[RIXML User Guide v2.2 p.40] [RIXML Research Data Dictionary v2.5.1 p.60]
• SHOULDSecurityType SHOULD be used together with AssetClass and AssetType to provide a complete classification hierarchy rather than appearing in isolation.[RIXML Research Data Dictionary v2.4 p.56] [RIXML Research Data Dictionary v2.5.1 p.60] [RIXML User Guide v2.3.1 p.41]
• INFORMATIVESecurityType is not required by RIXML Level One compliance, either as a child of Security or as a child of ProductClassifications; Level One implementations rely on AssetClass and AssetType for classification. It MAY still be included without breaking Level One compliance.[RIXML Level One Addendum v2.3 p.14] [RIXML Level One Addendum v2.3.1 p.14] [RIXML Level One Addendum v2.3.1 p.18]

Relationships

• qualifiesAssetClass — AssetClass sits above SecurityType in the classification hierarchy; the two are typically used together to fully classify a security.
• qualifiesAssetType — AssetType provides the intermediate classification between AssetClass and SecurityType, and works in conjunction with SecurityType for comprehensive categorization.
• child-ofSecurity — SecurityType may appear as a child of Security within SecurityDetails to classify the specific instrument.
• child-ofProductClassifications — SecurityType may appear under Context within ProductClassifications to indicate a product-level focus on a particular security type.
• containsRating — SecurityType may contain one or more Rating children expressing the publisher's rating for the security type.
• containsWeighting — SecurityType may contain one or more Weighting children expressing portfolio or recommendation weighting for the security type.
• constrained-bySecurityTypeEnum — The required securityType is constrained to values from SecurityTypeEnum, which contains approximately thirty-eight standardised values covering bonds, equities, derivatives, commodities and specialised instruments.
• replaced-byAssetClass — In the draft RIXML v3 redesign, the separate SecurityType, AssetType and AssetClass tags are consolidated into a single asset class tag set that better reflects the tree-structured relationships between classifications.